Capital gain

Dear sir,

                  I built my house that took time for 2 years that are F.Y. 1995-96 and 1996-97 and total cost of the house was 3.75 lac now I have sold the house in F.Y. 2010-11 for 17.30 lac. Please tell me what is may capital gain as I am confused about Cost Index because I don't know which F.Y. cost index is to be taken. Please help.

Replies (3)

Dear Krishanu,


Please find attached herewith the file for the Capital Gains Tax Calculation.


Regards,

Devendra K

Sir I have a little confusion

In Your sheet CII is 385

May I know how this CII came

Cost of improvement should be caluclated taking the CII of both the years.

Say xxxx Rs(estimated amount spent in year 1) X CII of 1st Year

and then xxxx Rs(estimated amount spent in year 2) X CII of 2nd Year

 

Regards

 

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